After the Denver Broncos signed quarterback Peyton Manning to a 5-year, $96 Million deal, Tim was traded to the Jets!

UPDATE: After word spread rapidly Wednesday that the New York Jets had acquired quarterback Tim Tebow from Denver for draft picks, the teams have encountered a hang-up in the language in Tebow’s contract that could nullify the trade, a Broncos source tells ESPN NFL Insider Adam Schefter.

Tim’s team, the Denver Broncos, traded their quarterback after signing Peyton Manning to a 5-year, $96 million deal.

ESPN’s SportsCentertweeted that the trade is a done deal. “Breaking News: @TimTebow has been traded to @nyjets.”